Facebook plans new group name to revamp image, says The Verge

FILE PHOTO: A 3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. REUTERS/Dado Ruvic/Illustration

(Reuters) - Facebook Inc, under fire from regulators and lawmakers over its business practices, is planning to rebrand itself with a new group name that focuses on the metaverse, the Verge reported on Tuesday.

The name change will be announced next week, The Verge reported, citing a source with direct knowledge of the matter.